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HISTORY 1906 Started in Rochester, N.Y., as The Haloid Company Chester Carlson first patented xerography 1937 First Haloid Xerox copier sold to the public 1949 Sold first truly simple, push-button, plain-paper copier 1959 Change name to Xerox Corporation 1961 1999 <ul><li>Declining Sales </li></ul><ul><li>Lack of Innovation </li></ul><ul><li>Economic slowdown overseas (notably Brazil) </li></ul><ul><li>Strong US Dollars abroad </li></ul><ul><li>Fierce Competition from Hewlett-Packard and Canon </li></ul><ul><li>Lawsuits (from outside and inside the company) </li></ul><ul><li>Financial Reporting Scandals (restated $2billion in revenues between 1997-2002) </li></ul>1999 - 2003 Had 20,000 layoffs in this period Anne Mulcahy appointed as CEO 2001 2008

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Mission Statement Our strategic intent is to help people find better ways to do great work -- by constantly leading in document technologies, products and services that improve our customers' work processes and business results. <ul><li>Six core values: </li></ul><ul><li>We succeed through satisfied customers . </li></ul><ul><li>We deliver quality and excellence in all we do. </li></ul><ul><li>We require premium return on assets . </li></ul><ul><li>We use technology to develop market leadership. </li></ul><ul><li>We value and empower our employees . </li></ul><ul><li>We behave responsibly as a corporate citizen . </li></ul>Values

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Industry Xerox is in a $125 billion industry Direct Competitors A fast paced market where 2/3 of equipment sales are from products that have an age of no more than 2 years An industry based on Innovation

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The Future Color Fastest Growing Portion of the Market Economic and improvements in color are driving the market transition to color *black and white market is still the largest market Emerging Market Xerox is highly dependent in mature markets (US & Europe) To grow faster , must seek in emerging market *Xerox China is owned by Fuji Xerox, a joint venture company between Fuji (75%) and Xerox (25%) Document Management Services The document industry is transitioning to digital systems and an increased reliance on electronic documents Xerox has the capability to capture this opportunity